Case 1.1 – Client Acceptance Question # 1: Identify 5 procedures an auditor should perform in determining whether to accept a client. Which of these five are required by the auditing standards? a. (AU 314) The auditor should obtain an understanding of the entity and its environment in the following areas: i. Client’s application of accounting policies ii. The industry‚ regulation and other factors affecting the client iii. Client’s objectives ‚ strategies‚
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and contrast Accrual Earnings Management and Real Earnings Management. Real Earnings Management: a. Real activities manipulation: managers try to mislead at least some of their stakeholders to believe that the financial reporting goals have been met through normal operational practices. However‚ this is not a value added activity‚ sometimes may even reduce firm value because current actions will have negative effect on future cash flow. b. It is probable that real earnings management will have
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CHAPTER 31 OCEAN CURRENTS TYPES AND CAUSES OF CURRENTS 3100. Definitions The movement of ocean water is one of the two principal sources of discrepancy between dead reckoned and actual positions of vessels. Water in motion is called a current; the direction toward which it moves is called set‚ and its speed is called drift. Modern shipping speeds have lessened the impact of currents on a typical voyage‚ and since electronic navigation allows continuous adjustment of course‚ there is less need to
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Ocean Carriers Inc. A Case Study By ab Introduction • Ocean Carriers Inc. owned and operated cape-size dry bulk carriers worldwide. • Major Cargo type : Iron ore. • Vessel sizes : 80000 DWT to 210000 DWT. • Cape-size carriers travel around Cape Horn rather than the Panama Canal due to size constraints. Operations Maintenance Maintaining Supplies And on board Stores Supply of Lubricants Cargo Operations Repairs Insurance Business Model • Mostly chartered
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“The acidification of the ocean today is bigger and faster than anything geologists can find in the fossil record over the past 65 million years” (Carl Zimmer). This is just an illustration regarding the tales of environmental degradation from carbon dioxide pollution in the ocean. The phenomenon of ocean acidification is imperative to understand; the reduction of essential pH levels over a protracted period of time is extremely harmful. In other words‚ ocean acidification can be measured by pH units
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| | while falling from a roof | | | while traveling through space in an accelerating rocket | | | none of the above | | | | | | Question 5 | 1.61 points | Save | | Which of the following best describes the origin of ocean tides on Earth? | | | | | | | | The Moon’s gravity pulls harder on water than on land‚ because water is less dense than rock. | | | Tides are caused by the 23 1/2° tilt of the earth’s rotational axis to the ecliptic plane. | | | Tides
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Seas and oceans provide various types of resources to human beings and habitats to numerous species of plants and animals. They play very important roles in the economy of a nation and its people. Still‚ the marine and coastal ecosystems are under severe stress due to human activities. Ocean Resources The ocean is one of Earth ’s most valuable natural resources. It provides food in the form of fish and shellfish—about 200 billion pounds are caught each year. It ’s used for transportation—both travel
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changes and continuities in commerce in the Indian Ocean region from 650 c.e. to 1750 c.e. THESIS: In the period between 650 C.E. and 1750 C.E.‚ the Indian Ocean region endured both change and continuity. CHANGES: Who dominated the trade‚ use to be used mostly by Indians and the Chinese but by 1750 Europe dominated most of all commerce.tfrtftgfygdfgrffffffffzzzzzgdfr1. Analyze the changes and continuities in commerce in the Indian Ocean region from 650 c.e. to 1750 c.e. THESIS:
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REPORT ON CAPESIZE PURCHASE FOR OCEAN CARRIERS Introduction The purpose of this report is to evaluate whether Ocean Carriers Inc. should immediately commission a new capesize carrier that would cost $39 million‚ and would be completed two years hence‚ in order to finalize a lease of the ship for a three-year period with a potential charterer in very good faith. The contrasting tax regulations between the two countries where the company locates its office‚ and the different cost-benefit circumstances
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Hurricane a Natural Ocean Disaster The ocean has been shaping our land as we know it for millions of years. It is a beautiful part of our Earth‚ nonetheless it has the greatest influence on some of the deadliest natural disasters to us and these disasters alter our shorelines and lives as we know it. Hurricanes are among the deadliest natural disasters known‚ those that live near the Gulf or eastern coast know of and prepare for the damages it can cause. Many have heard of the devastation hurricanes
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